(Last Updated January 23, 2021)
Welcome to the news page for USDSEK (USDSEK). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| United States Chicago Fed National Activity Index | Dec 2020 | US Dollar | USD | 2021-01-25 | 13:30 GMT | ||
| United States Dallas Fed Manufacturing Index | Jan 2021 | US Dollar | USD | 2021-01-25 | 15:30 GMT | ||
| United States S&P/Case-Shiller Home Price YoY | Nov 2020 | US Dollar | USD | 2021-01-26 | 14:00 GMT | 8.1% | |
| United States S&P/Case-Shiller Home Price MoM | Nov 2020 | US Dollar | USD | 2021-01-26 | 14:00 GMT | ||
| United States CB Consumer Confidence | Jan 2021 | US Dollar | USD | 2021-01-26 | 15:00 GMT | 89 |
As for trends on USDSEK, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to sell for those interested in playing the longer term trend.
The moving averages on USDSEK indicate a trend that is clearly bearish. Moreover, it should also be noted that the 20 SMA just turned bearish today.
Below is a chart showing USDSEK’s price with its moving averages.
In terms of correlations over the past week for USDSEK, it has been most correlated with GBPJPY. Over the past 14 days, however, EURUSD is the asset most correlated to USDSEK. On the flip side, GBPAUD has been the asset least correlated with USDSEK — but over the past two weeks, the asset least correlated with USDSEK has been GBPUSD. The chart below illustrates USDSEK against its least correlated assets.
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At the time of this writing, USDSEK’s rate is down -1141 pips (-1.36%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. USDSEK’s weekly price action over the past 52 weeks can be seen via the chart below.
Clearest trend on the monthly is apparent at the 60 month timeframe.
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down.
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
The clearest trend exists on the 30 day timeframe, which shows price moving down over that time.
This is a reversal of the price action on the previous hour, in which price moved down.
The clearest trend exists on the 30 day timeframe, which shows price moving down over that time.
Compared to its peers in the forex, usdsek gave its buyers a return that ranked 25th in terms of percentage change since the previous day.
This is a reversal of the price action on the previous hour, in which price moved up.
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.